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Why Not To Buy Not Rivian Calls With Two Days to Go?

It's obvious right? If you mess up and the stock opens the wrong way you only have one day for a rebound. Why put yourself in that position? Others might be in the camp of saying why not go for a fifty percent rebound on Thurday's morning opening. The stock sold of on Wednesday on very little volume. A morning pop is possible. The stock has being strong as of late. Here is it's five day chart. Now this, the seventeen series of Calls that expires in two days. They do look cheap after hitting a high of $1.55 on the day. If we look at a 30 day chart we will see that the stock is still in an uptrend. Why not look at the Call options one and two weeks out? Here are the seventeen series of Calls one and two weeks out They would be much safer to play and I will check in on these ones at a later date. So what happened on the Thursday opening? Let's switch gears for a moment and look at how Roku, a much higher priced stock opened and look at how their Call options moved.

Looking At One Week Price Swings !

This is a good market for price swings. Look at Boeing last week.
Boeing was up $12.63 on the week.Then there is Eli Lilly. It was up $28.44 last week.
The strange part is falling NYSE stocks outnumbered rising ones, 3-to-2. It is stated that the May job growth seemed to rule out a "near-term" rate cut. Look at the stock McDonalds. It was down $2.68 on the week. What a wild chart.
At the start of the year it was running up nicely on the theme they were adding new restaurants in the growing suburbs of every city in North America. Most recently the theme is that people can't afford to eat there. When sentiment changes looking for a rebound is never an exacting science. Look at Ford. It was up two cents last week and it was announced that sales last month were up 7%. If they are up again next month the stock might start to get noticed.
Had you purchased the 12 series Calls on Wednesday that expired that Friday you would have done well. Look at Nio. It was the third most activity traded stock on the NYSE last week. Ford was the fifth most activity traded stock on the same exchange. Nio often makes the top five list. Last week it dropped $.56 cents. That's a big drop on a stock in this price range.
It could come back up this week. Now look at First Solar. Look at it's one day chart last Friday!
Imagine catching Friday's one day Call options? Now look at it's one week chart. The stock was down $4.42 on the week.
On the wilder side,the "Blink" $3.00 series of Calls that expire this Friday closed last Friday at $.17. Playing options on stocks in this price range is a real crap shoot. See my June 4th blog I wrote about Chargepoint).
Here is it's first option trade of the week.
A 1:45p.m. same day update. The Ford 12 series of Calls has doubled.
Eli Lilly is up $9.61.
First Solar is up $14.41.
All during a period of time when the DJIA is only up 8 points so far on this day! *** Look at how the Blink Calls went on to gain over 50% in one day.

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